Employee Share Scheme

Royal Bank of Scotland Group PLC
13 February 2004

Company Announcement

The Royal Bank of Scotland Group plc

Employee Share Scheme

The Royal Bank of Scotland Group plc announces that it has applied to the London
Stock Exchange and the UK Listing Authority for a new block listing of 1,000,000
ordinary shares of 25p each in respect of the Medium-term Performance Plan
employee share scheme.

These new shares will rank pari passu in all respects with the existing ordinary
shares of the Company. Application has been made for the 1,000,000 new shares to
be admitted to the Official List and approval of the block listing application
is expected on 17 February 2004.

Further copies of this announcement are available at the Company's offices at 36
St Andrew Square, Edinburgh and at the Company Announcements Department, The
Stock Exchange.



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